When you finish second but are given first prize anyway. Inspired by Donald Trump receiving 2.1% fewer votes than Hillary Clinton but being given the presidency as a participation trophy.
Christopher Columbus is often accredited as the first European to step foot in the Americas. However, this is just a Par-Trump-cipation Trophy as the Viking, Leif Erikson, established a settlement at L’Anse aux Meadows in Newfoundland some 500 years before Columbus left Europe
That one extremely attractive friend of the opposite gender that you like to hang out with. A relationship would never work between you two but you like to keep them around to show off to your other friends.
Robin: Damn, did you see all those hot girls that Eli was with?
Bryan: Yeah, he's not getting any though. They're just trophy friends.